On Monday, I delivered a speech on the imperative for solving the nation’s fiscal crisis, the need for bipartisan cooperation on this issue, and how we must balance economic recovery and job creation now with long-term deficit reduction. More than ever, Americans understand the danger of debt, and at this moment in history, it is critical that we develop a serious plan for the future. That is why next week, we plan to consider a budget that cuts spending below the President's proposal, reiterates our commitment to pay-as-you-go, and a confirms our intention to vote on recommendations from the bipartisan commission on how we can restore fiscal balance over the long term.

While Democrats are working to create jobs, Senate Republicans, for the third time, blocked legislation this week extending tax cuts to small businesses and unemployment insurance benefits to millions of Americans. Republicans’ obstruction of this bill is further evidence that they are not fighting for the American people, but instead are fighting for their own political self-interest.

Democrats continue to remain focused on key threats to our nation and yesterday passed a bill to increase our national security. The Iran Sanctions conference report will strengthen the sanctions passed by the UN Security Council and sends a strong message that the United States will use every tool we have to prevent Iran from pursuing nuclear weapons.

This week we also passed the DISCLOSE Act, which will help ensure transparency and accountability in our nation's campaigns.

Early this morning, the House and Senate reached agreement on Wall Street Reform legislation that will protect consumers and help prevent another financial crisis. I look forward to bringing this bill to the House Floor for a vote next week, and sending it to the President’s desk very soon.

Sincerely yours,
STENY H. HOYER

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